Facebook Crypto May Bring $19B, - Barclays

Barclays analyst expressed the opinion that own coin could bring the largest social network from 3 to 19 billion US dollars of additional income by 2021
12 March 2019   408

According to analyst of the financial conglomerate Barclays Ross Sandler, the stablecoin of  Facebook can bring it billions of dollars in additional revenue. This is reported by CNBC.

In a note for investors, Sandler expressed the opinion that own coin could bring the largest social network from 3 to 19 billion US dollars of additional income by 2021.

The analyst stressed that his forecast completely depends on whether “Facebook Coin will prove its effectiveness in activating the micropayment strategy for distributing digital content.” In his opinion, the main task of Facebook is “to demonstrate the competitive advantages to users against the background of the current payment opportunities”. In addition, social networks need to restore user confidence "after the problems of 2018".

Based on our checks, the first version of Facebook Coin may be a single purpose coin for micro-payments and domestic p2p money transfer (in-country), very similar to the original credits from 2010 and Venmo today.

Ross Sandler

Analyst, Barclays

In 2017, Facebook's total revenue amounted to $ 40.6 billion. Of these, $ 39.9 billion is revenue from advertising. 

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   276

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.